assembly Bill A5964A

2015-2016 Legislative Session

Relates to certified public accountants

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2016 referred to higher education
Jun 05, 2015 print number 5964a
Jun 05, 2015 amend and recommit to higher education
Mar 09, 2015 referred to higher education

Co-Sponsors

Multi-Sponsors

A5964 - Details

See Senate Version of this Bill:
S4672
Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Amd §7408, Ed L; amd §§1503, 1507, 1508, 1509, 1511, 1512, 1514 & 1525, BC L; amd §§121-1500, 121-1502 & 121-101, Partn L; amd §§1207 & 1301, Lim Lil L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9771, S4596
2017-2018: A3046, A8973, S3851
2019-2020: A2919, S3842
2021-2022: A1938, S4221

A5964 - Summary

Relates to certified public accountants.

A5964 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5964

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              March 9, 2015
                               ___________

Introduced  by  M.  of  A.  ORTIZ, FAHY -- read once and referred to the
  Committee on Higher Education

AN ACT to amend the education law, the  business  corporation  law,  the
  partnership  law and the limited liability company law, in relation to
  certified public accountants

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  7408 of the education law is amended by adding a
new subdivision 6 to read as follows:
  6. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ANY FIRM ESTABLISHED TO
LAWFULLY ENGAGE IN THE PRACTICE OF PUBLIC ACCOUNTANCY PURSUANT TO  ARTI-
CLE FIFTEEN OF THE BUSINESS CORPORATION LAW, ARTICLES ONE AND EIGHT-B OF
THE  PARTNERSHIP  LAW,  OR  ARTICLES  TWELVE AND THIRTEEN OF THE LIMITED
LIABILITY COMPANY LAW SHALL BE DEEMED AUTHORIZED TO REGISTER PURSUANT TO
THIS SECTION.
  S 2. Section 1503 of the business corporation law is amended by adding
a new paragraph (h) to read as follows:
  (H) ANY FIRM ESTABLISHED FOR THE BUSINESS PURPOSE OF INCORPORATING  AS
A  PROFESSIONAL  SERVICE  CORPORATION  FORMED  TO LAWFULLY ENGAGE IN THE
PRACTICE OF PUBLIC ACCOUNTANCY, AS SUCH PRACTICE IS RESPECTIVELY DEFINED
UNDER ARTICLE ONE HUNDRED FORTY-NINE  OF  THE  EDUCATION  LAW  SHALL  BE
REQUIRED  TO  SHOW  (1)  THAT  A SIMPLE MAJORITY OF THE OWNERSHIP OF THE
FIRM, IN TERMS OF FINANCIAL INTERESTS, INCLUDING OWNERSHIP-BASED COMPEN-
SATION, AND VOTING RIGHTS HELD BY THE FIRM'S OWNERS, BELONGS TO INDIVID-
UALS LICENSED TO PRACTICE PUBLIC ACCOUNTANCY IN SOME STATE, AND (2) THAT
ALL SHAREHOLDERS OF A PROFESSIONAL SERVICE CORPORATION  WHOSE  PRINCIPAL
PLACE  OF BUSINESS IS IN THIS STATE, AND WHO ARE ENGAGED IN THE PRACTICE
OF PUBLIC ACCOUNTANCY IN THIS STATE, HOLD A VALID LICENSE  ISSUED  UNDER
SECTION  SEVENTY-FOUR  HUNDRED  FOUR  OF THE EDUCATION LAW OR ARE PUBLIC
ACCOUNTANTS LICENSED UNDER SECTION  SEVENTY-FOUR  HUNDRED  FIVE  OF  THE
EDUCATION  LAW. ALTHOUGH FIRMS MAY INCLUDE NON-LICENSEE OWNERS, THE FIRM

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03159-01-5

Co-Sponsors

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Multi-Sponsors

view additional multi-sponsors

A5964A (ACTIVE) - Details

See Senate Version of this Bill:
S4672
Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Amd §7408, Ed L; amd §§1503, 1507, 1508, 1509, 1511, 1512, 1514 & 1525, BC L; amd §§121-1500, 121-1502 & 121-101, Partn L; amd §§1207 & 1301, Lim Lil L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9771, S4596
2017-2018: A3046, A8973, S3851
2019-2020: A2919, S3842
2021-2022: A1938, S4221

A5964A (ACTIVE) - Summary

Relates to certified public accountants.

A5964A (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 5964--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              March 9, 2015
                               ___________

Introduced by M. of A. ORTIZ, FAHY, CUSICK, RODRIGUEZ, STIRPE, LUPINACCI
  --  Multi-Sponsored  by  --  M.  of  A.  LUPARDO,  RA -- read once and
  referred to the Committee on Higher Education -- committee discharged,
  bill amended, ordered reprinted as amended  and  recommitted  to  said
  committee

AN  ACT  to  amend  the education law, the business corporation law, the
  partnership law and the limited liability company law, in relation  to
  certified public accountants

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 7408 of the education law is amended  by  adding  a
new subdivision 6 to read as follows:
  6. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ANY FIRM ESTABLISHED TO
LAWFULLY  ENGAGE IN THE PRACTICE OF PUBLIC ACCOUNTANCY PURSUANT TO ARTI-
CLE FIFTEEN OF THE BUSINESS CORPORATION LAW, ARTICLES ONE AND EIGHT-B OF
THE PARTNERSHIP LAW, OR ARTICLES TWELVE  AND  THIRTEEN  OF  THE  LIMITED
LIABILITY  COMPANY  LAW SHALL BE DEEMED ELIGIBLE TO REGISTER PURSUANT TO
THIS SECTION.
  S 2. Section 1503 of the business corporation law is amended by adding
a new paragraph (h) to read as follows:
  (H) ANY FIRM ESTABLISHED FOR THE BUSINESS PURPOSE OF INCORPORATING  AS
A  PROFESSIONAL  SERVICE  CORPORATION  FORMED  TO LAWFULLY ENGAGE IN THE
PRACTICE OF PUBLIC ACCOUNTANCY, AS SUCH PRACTICE IS RESPECTIVELY DEFINED
UNDER ARTICLE ONE HUNDRED FORTY-NINE  OF  THE  EDUCATION  LAW  SHALL  BE
REQUIRED  TO  SHOW  (1)  THAT  A SIMPLE MAJORITY OF THE OWNERSHIP OF THE
FIRM, IN TERMS OF FINANCIAL INTERESTS, INCLUDING OWNERSHIP-BASED COMPEN-
SATION, AND VOTING RIGHTS HELD BY THE FIRM'S OWNERS, BELONGS TO INDIVID-
UALS LICENSED TO PRACTICE PUBLIC ACCOUNTANCY IN SOME STATE, AND (2) THAT
ALL SHAREHOLDERS OF A PROFESSIONAL SERVICE CORPORATION  WHOSE  PRINCIPAL
PLACE  OF BUSINESS IS IN THIS STATE, AND WHO ARE ENGAGED IN THE PRACTICE
OF PUBLIC ACCOUNTANCY IN THIS STATE, HOLD A VALID LICENSE  ISSUED  UNDER

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03159-03-5